Category Archives: Business/Economics

Business/Economics, International, U.S.

Don’t want to die? Stay out of hospitals in Canada, United States and Europe! Another reason for increased health care costs

“If you were admitted to hospital tomorrow in any country … your chances of being subjected to an error in your care would be something like 1 in 10. Your chances of dying due to an error in health care would be 1 in 300.”-Professor Liam Donaldson, World Health Organization envoy

The United Nations released a study saying that hospitals in the ‘western’ world are sure places to catch a deadly disease, or die from mistakes made by medical personnel.

The UN World Health Organization discovered that your chances of dying in a hospital, by medical errors, are far greater than dying in a plane crash.

More interestingly, Canada takes the number one spot for worst hospital related infections, at an 11.6% infection rate.  The European Union has a 7% rate, followed by the United States with 4.5%.

But lets put that U.S. rate of 4.5%, which sounds low, into real numbers.  According to the research 1.7 million infections are acquired in U.S. hospitals, which leads to 100,000 deaths each year.  That’s 100,000 people in the U.S. being killed because of hospital uncleanliness.

Catching an infection while in the hospital means a longer stay and more treatment.  The study suggests that the increased infection rate while being in the hospital, along with medical mistakes, are partly to blame for increasing medical costs.

To be sure most health care systems around the world are in trouble, but, what surprised the WHO researchers is that the developed ‘western’ world has made no progress in improving medical care inside hospitals.  Former United Kingdom chief medical officer Liam Donaldson, said this: “It shows that health care in general worldwide still has a long way to go.  Health care has not achieved the level of safety of many other high-risk industries.”

 

Business/Economics, Opinion, U.S.

TARP a TRAP for taxpayers: Treasury Dept. scamming taxpayers, banks paying off loans with loans, is there any real money left in the U.S.?

An organization called Project on Government Oversight discovered the U.S. Treasury Department is letting big banks, and corporations, pay off their taxpayer funded loans with new taxpayer funded loans meant for small banks.

On paper it looks like big banks who took out TARP bailout loans are paying those loans off.  It turns out that many of those payoffs came from new loans also offered through the Treasury Department.

The new loans are being made with a program that was meant for smaller banks, to lend money to small businesses.  The program is called Small Business Lending Fund.

What this means is the U.S. Treasury is not really getting the taxpayer funded TARP bailout money back.  Instead the Treasury is allowing the big banks to rob Peter to pay Paul.  The problem here is that both Peter and Paul are one in the same, the U.S. taxpayer!

This isn’t the first time claims were made that TARP money was being paid back with loans.  In April 2010, Senator Charles Grassley, of Iowa, claimed that General Motors paid back their TARP loan, with another TARP loan: “It looks like [GM’s] announcement is really just an elaborate TARP money shuffle. The repayment dollars haven’t come from GM selling cars but, instead, from a TARP [escrow] account at the Treasury Department.”

Now the question is why can’t the big banks, and other corporations, pay back their taxpayer TRAP (I mean TARP) loans?  After all many have reported big profits. Is this a case of no real money left in the United States?



Business/Economics, International

No Economic Recovery for U.S.: Brazil lowest unemployment rate since 2002

Brazil’s unemployment rate in June hit a low of 6.2%.  Compare that to June of 2002 when Brazil’s unemployment rate was 11.6%.

Officials credit the drop in unemployment to new job creation.  Last year alone half a million (512,000) new jobs were created in Brazil.  Also, the average wage went up 4% since last year.

Take into account that Brazil counts employment only in the six largest cities, officials admit there are still at least 1.5 million Brazilians out of work.

 

Business/Economics, Idaho

What Economic Recovery: Idaho unemployment edged up, still at 9.4%, almost no new jobs created in June

Even though Idaho’s unemployment rate is still 9.4% (for several months now) it actually edged up by 500 newly unemployed, for the month of June.

To make matters worse, the Idaho Department of Labor says most of the 15,000 people who found jobs in June, are filling existing positions.  In other words almost no new jobs were created.

Sadly the 15,000 who found work is the highest number since October 2010, yet still far below the average hirings before the 2007/8 credit crisis.

Idaho officials also said that 1,800 unemployed people stopped looking for work in June.

Business/Economics, Opinion, U.S.

Idiot! CNN commentator says $14 billion loss for U.S. taxpayers is a good thing

Some idiot at CNN called the huge billion dollar car maker bailout loss for U.S. taxpayers “Excellent!”.

He justifies his statement by saying it’s better than the originally projected loss of $40 billion.  What this idiot doesn’t seem to realize is that most taxpayers were against the bailouts, because they knew they would lose.

In total, between Chrysler and GM, the U.S. taxpayers lost $14 billion dollars in the auto maker bailout joke.  But this guy at CNN thinks it’s great, calling it “…a mere $14 billion”.

The idiot goes on to claim that the U.S. government (taxpayers) would have lost huge tax revenues if Chrysler and GM went out of business.  Hello, most of their sales are now outside the U.S., which means they’re not paying U.S. taxes on those sales.

 

Business/Economics, International, U.S.

Government Incompetence: Canadian taxpayers lose $810 million to Chrysler, Unions say it could threaten factories

Just like the U.S. government, the Canadian government has sold its shares of Chrysler stock to Fiat, at a loss.

Canada bailed out Chrysler’s operations in Canada, and it cost the Canadian taxpayers $810 million.

Canadian autoworkers union officials say their government should have held on to the stock a little longer, as a way of making sure Chrysler/Fiat doesn’t shut down the Canadian operations: “We’ve advocated all along for the Ontario and Canadian governments to retain those shares as leverage, to retain investment in Canada, but that decision wasn’t made and now we have to trust that Chrysler and Fiat will recognize the incredible contributions Canadian workers, and Canadian plants, have made in the turnaround of this company.”-Ken Lewenza, union rep

Business/Economics, International, U.S.

No Economic Recovery for U.S.: China offers U.S. college students free education

“We hope the scholarships will encourage American students to delve into China studies and other subjects in China in earnest.”-Zhang Jin, education exchange program

China’s Ministry of Education is ready to offer full university scholarships to  students from the United States.  The program actually started last year, and was officially announced in April of this year.

China has a plan to attract 500,000 foreign students to its universities by 2020.  The plan also supports U.S. President Obama’s desire to send 100,000 U.S. students to China (so much for Obama’s support of U.S. higher education).

If you want to check out the full scholarship go to www.studyinchina.edu.cn , click on “english” to get the English version of the site.

 

 

Business/Economics, U.S.

What Economic Recovery? Weekly first time unemployment claims go up, “experts” surprised (again), unemployment really at 20%

The U.S. Department of Labor reported that first time state unemployment claims jumped by 10,000, to 418,000.  The numbers are for the week ending July 16.

The previous week’s drop in first time claims is due to the shortened work week (July 4 holiday).  That means it’s very likely that the first week of July could have seen an increase in unemployment as well.

Once again, many “expert” employment annalists did not expect such a large increase in unemployment claims, for the week ending July 16.

The latest weekly first time unemployment claims numbers, continues a trend, now 15 weeks on.  15 weeks in a row that first time unemployment claims is above 400,000.

The current official unemployment rate is 9.2%.  If our government was using the same unemployment rating system that was used during the time Bill Clinton was President, then official unemployment would be at 20%!